Shocked workers at the Hebburn yard were rocked by the news that bankers acting for Cammell Laird had called in receivers.

More than 750 staff at the site were left to facing an uncertain future with union chiefs warning of massive job cuts.

But Swan Hunter boss Jaap Kroese today pledged to take over the Hebburn yard and keep the workers off the dole.

He said: "There is no reason why the yard should not carry on. It will simply mean a new owner. We are thinking of moving our offshore work to Teesside but this site would be ideal for us and we would offer the workforce job security.

"I will be contacting the receiver as soon as possible in order to get the deal moving. Shipbuilding on the Tyne is on the up and there is no reason why this highly-trained workforce should be made jobless."

The Chronicle revealed on Wednesday how Cammell Laird had crashed into receivership.

The firm fell into financial chaos after an Italian cruise-liner firm backed out of a #51 million deal for Cammell to refit and lengthen one of its ships.

As the Costa Classica liner was sailing for Cammell's Merseyside yard bosses at Costa Crociere turned it around and refused to pay for #41 million of work already done, claiming unacceptable delays.

News that Wallsend-based Swan Hunter were making a move to take control of the Hebburn yard was welcomed by local MP Steve Hepburn.

He said: "I support this move and Jaap is someone who has the expertise and drive to make this work. It is clear from what he has done at Swan Hunter and the good that he has done for the shipbuilding industry on the Tyne that Jaap would be a good choice.

"The Cammell Laird shipyard has a highly-trained workforce, there has been a lot of investment and the order book is full.

"There is no reason why it can't be sold as a going concern and one that has a very rosy future. Added to that Swan Hunter already has Ministry of Defence approval so there is no reason why they cannot

bid for more of that kind of business.

"The news has been gloomy over the past few days so this has been a welcome change.

"Everyone I have spoken to, from the other shipbuilding firms, to the unions and Stephen Byers is now very optimistic. The Cammell Laird yard is like a phoenix raising from the ashes."

GMB regional secretary Kevin Curran said there was still a future in shipbuilding for anyone who wanted it.

"Although I am sad and disappointed that Cammell Laird has failed, from the moment the announcement was made I was confident that something positive would come from this situation.

"I am aware that Jaap has made noises about buying the yard and that is to be welcomed as would any other bid. The opportunity is still there for other companies to get involved and make sure that shipbuilding remains at Hebburn."

Mr Curran's comments came after a meeting of the Tyne Maritime Group, which is backed by employers, unions, local authorities and MPs.

He said: "The group is confident that there is a future in shipbuilding and we are looking at ways to improve the strength of our group by including companies from the across the whole of the North East.

"There is a lot of expertise out there in the workforce and we must utilise it as much as we can by bringing new orders and new opportunities to the region's shipyards."

Swan Hunter has already looked into expanding its operations on the Tyne and in the North East.

Last month Swan Hunter inspected the Neptune Yard in Low Walker with a view to revamping it.

But after inspecting the site, company chiefs decided that it was too derelict and turned their attention to the Kvaerner yard on Teesside, while workers at their Wallsend base concentrated on the massive #130 million MOD order it landed last October to build two Royal Navy ships.

Swans is actively lobbying for more Government orders as well as further contracts.

Any expansion will also put Swans in a stronger position to bring the ultimate prize of building two aircraft carriers, likely to be ordered within the next five years, to Tyneside.

These will be worth around #1 billion each and would bring up to 5,000 jobs to the river.

Hopes that the jobs at Hebburn could be saved were also boosted by news that the official receiver charged with saving Cammell Laird's workforce from the dole was the same man who rescued Swan Hunter during their darkest days.

Ian Stokoe of PriceWaterhouse-Coopers managed to rescue the ailing Swan Hunter company after they floundered seven years ago.